Six Hot Retail Stores Coming to Chicago
Whether on established thoroughfares like Michigan Avenue and the Gold Coast or hip areas like Bucktown, Chicago is undergoing a retail transformation. Here are six new stores making real change:
1. Rag & Bone
Where: Gold Coast: 25 East Delaware St at the corner of Rush and Delaware.
Opening Date: TBD
Who was involved: Mid-American represented the building.
What’s up in the ‘hood: The epicenter of the Gold Coast has always been at Rush and Oak streets. This addition further cements retail’s ability to move south in the area, says CBRE first VP of global retail brokerage Todd Siegel.
Cool factor: Rag & Bone brings aspirational luxury to the area, offering something a tad higher end.
Opening date: Currently under construction, so summer 2015 looks likely.
Where: Bucktown, taking 1,800 SF at 1619 N Damen St
Opening date: Already opened for business in December 2014.
Who was involved: JLL VP Jason Trombley represented Shinola. (He’s also a Detroit native.)
What’s up in the ‘hood: Over the last 12 to 24 months, Bucktown has attracted the more edgy, rugged brands that didn’t really find a home in the Gold Coast.
Cool factor: This is the watch brand’s first brick-and-mortar store providing an experience for the consumer in a small, high-end space.
Where: Marina Bay, taking 9,100 SF in the old Bin 36 location at 339 N Dearborn St.
Opening date: 2015
Who was involved: JLL repped the owner.
What’s up in the ‘hood: More high-profile restaurants are starting to view Chicago as a destination and on par with other well-known foodie cities like Miami, Vegas and New York City. Another example is Tao—it’s taking over the former Castle nightclub space.
Cool factor: Zuma has locations in London, New York and Dubai, among others, and offers upscale Japanese food. The local Bin 36 moved to a smaller location on West Randolph Street in the River North area.
4. Under Armour
Where: 30k SF on Michigan Avenue, at 600 N Michigan Ave.
Opening date: March 2015
Who was involved: Building owner is Clarion and the tenant rep broker was Greg Kirsch of NGKF. This used to be Eddie Bauer’s store space.
What’s up in the ‘hood: Planting a flag on 600 N Michigan Ave further underscores the value brands are placing on consumer spending in the 300, 400, 500 and 600 block of the avenue, as more moderately priced retailers are falling in line along the southern boundary.
Cool factor: It’s Under Armour’s biggest retail store dubbed as its “Brand House.”
5. Tom's Shoes
Where: In Bucktown, at 1611 N Damen St, in some 2k SF.
Opening date: Take a walk down there because it just opened in 2015.
Who was involved: DRW Holdings was the leasing agent.
What’s up in the ‘hood: This brand with a clearly laid-back vibe underscores the neighborhood’s grittiness. We think it just makes it a little more cool to be in Bucktown.
Cool factor: Tom’s is not only offering to donate a pair of shoes to a child in need, but is also offering an experience: the store will be part coffee shop, part retail, inviting customers to hang out in their new kicks...or ponder a purchase over a latte.
6. Billy Reid
Where: In the West Loop, at 845 W Randolph St
Opening date: TBD
Who was involved: It’s all on the DL but the store is taking over what used to be the Andrew’s Paper Company space.
What’s up in the ‘hood: The West Loop is coming into its own, with cool hotels, Google and others creeping in. Think how the Meatpackng district in New York City metamorphosed, for a solid example.
Cool factor: Billy Reid is taking a smaller space and is, essentially, a pioneer in retail to an area that has Fortune 500 companies, hospitality outlets and food and beverage in place.